Financial Release

MAYFIELD VILLAGE, OHIO – February
13, 2019 -- The Progressive Corporation (NYSE:PGR) today reported the following
results for January 2019:

(millions,
except per share amounts and ratios; unaudited)

January

January

Change

2019

2018

Net premiums
written

$

3,173.2

$

2,729.2

16 %

Net premiums
earned

$

3,189.9

$

2,689.6

19 %

Net income attributable
to Progressive

$

556.0

$

448.3

24
%

Per share available to common
shareholders

$

0.94

$

0.77

23
%

Total pretax
net realized gains (losses) on securities

$

269.5

$

181.1

49 %

Combined ratio

88.6

87.4

1.2 pts.

Average diluted
equivalent common shares

586.4

585.5

0 %

(thousands;
unaudited)

January

January

2019

2018

Change

Policies in Force

Vehicle
businesses:

Agency – auto

6,413.5

5,730.0

12 %

Direct
– auto

7,086.6

6,145.3

15 %

Total personal auto

13,500.1

11,875.3

14 %

Total special lines

4,379.4

4,269.6

3 %

Total Personal Lines

17,879.5

16,144.9

11 %

Total Commercial Lines

700.3

649.8

8 %

Property
business

1,957.2

1,579.8

24 %

About ProgressiveThe Progressive Group
of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices
so consumers can reach us whenever, wherever
and however it's most convenient-online at progressive.com, by phone at
1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks,
motorcycles, boats, recreational vehicles, and homes. Home insurance is
underwritten by select carriers, including American Strategic Insurance Corp. and subsidiaries (ASI),
our majority owned subsidiaries.
Progressive is the third largest auto insurer in the country; a
leading seller of motorcycle
and commercial
auto insurance; and through ASI, one of the top 15homeowners insurance carriers.

Founded in 1937, Progressive continues its long history of offering shopping
tools and services that save customers time and money, like Name Your Price®, Snapshot®,andHomeQuote Explorer®.

The Common Shares of The Progressive Corporation, the Mayfield Village,
Ohio-based holding company, trade publicly at NYSE:PGR.

We offer insurance by phone, online and through independent agents. Prices vary based on how you buy. Quotes for policies sold through agents and brokers are available, and can also be retrieved, through ProgressiveAgent.com or via the Quote with a Local Agent button. Mobile quotes are for policies purchased directly from Progressive. Not available in all states and situations.

Progressive Home Advantage® policies are placed through Progressive Specialty Insurance Agency, Inc. with select insurers that it represents. These insurers are not affiliated with Progressive, are solely responsible for claims and pay PSIA commission for policies sold. Prices, coverages, privacy policies and PSIA's commission vary among these insurers. A quote from one of the insurers can be provided through this site. Click here for a quote from other insurers or more information about PSIA's commission.